ARLINGTON, Va.–(BUSINESS WIRE)–Aug. November 2022–
America’s Frontier Fund (AFF) announced today that the New Mexico State Investment Council (NMSIC) has invested up to $100 million in Frontier Fund I, LP (Frontier Fund I). As part of the commitment, AFF plans to build a unique pioneering technology venture studio called “Roadrunner Studios” in Albuquerque, focused on commercializing cutting-edge research and development from New Mexico’s national laboratories and universities.
AFF is pleased to partner with the State of New Mexico on this initiative because the state has strong resources for Frontier Tech research and development, including a high concentration of R&D talent per capita, world-class R&D and patents, several world-leading national ones Laboratories, specialized cyber and energy expertise, and incredible state and local government support for commercialization.
“Our mission is to build new companies and technologies based on fundamental scientific breakthroughs,” he said Gilman Louie, CEO and co-founder of AFF. “These innovations will transform sectors such as energy, healthcare, communications and manufacturing, transforming the new Mexican, American and global economies.”
Frontier Fund I is AFF’s flagship venture fund that seeks outsized returns for Limited Partners by investing in Frontier Technologies critical to the long-term economic competitiveness and national security of the United States. These technologies include microelectronics, artificial intelligence, advanced manufacturing, quantum science, 5G/6G communications, new energy systems, and synthetic biology.
“We believe the next decade could see more breakthrough innovations than the previous five combined,” he added Jordan Blashek, AFF President and Co-Founder. “Leveraging our dynamic science, technology and investment expertise, Frontier Fund I relies on American innovators across the country with bold vision to build and scale the cutting-edge technologies that will shape the future.”
AFF also announced its plans to create a national network of pioneering technology venture studios across the United States. Studios will be built in regions of America’s heartland that have the building blocks for innovation but remain largely untapped as venture ecosystems. With the support of the New Mexico State Investment Council, AFF is proud to announce that Albuquerque, NM will be the location of the first venture studio and the headquarters of the national network.
Through Roadrunner Studios, AFF intends to strengthen New Mexico’s research and entrepreneurship capabilities, transform the state into a global leader in frontier technology innovation, and bring new jobs and economic dynamism to the state.
“Our goal is to make our national venture studio network a world-leading engine for creating ventures,” he said dr Norman Winarsky, General Partner of AFF. “With our regional strategy, the national venture studio network has the resources needed to achieve overwhelming success: top technology leaders and entrepreneurs, outstanding venture capital investors, a national base of advisors and mentors, and a support structure of legal and , financial and technical partners.”
About Frontier Fund I
Frontier Fund I is AFF’s flagship venture fund. It seeks outsized returns for Limited Partners by investing in frontier technologies critical to the long-term economic competitiveness and national security of the United States. These technologies include microelectronics, artificial intelligence, advanced manufacturing, quantum science, 5G/6G communications, new energy systems, and synthetic biology. Frontier Fund I combines successful investors with a wealth of experience – from scientists, technologists, founders and political experts – to invest in visionary companies. Collectively, the team has decades of experience across all phases of venture capital, having launched or led highly strategic platforms and access to a strong network of relationships.
About AFF’s Roadrunner Studios
AFF’s Roadrunner Studios is a national network of venture studios. It represents a novel approach to opening up the entire US system for entrepreneurial innovation. Many efforts to create regional technology hubs struggle to bring together all facets of a technology ecosystem, including access to capital, facilities, R&D, government incentives, and human talent. AFF aims to reinvent this model, combining local resources with national-level resources and matching regions with other complementary regions, while developing targeted programs to reinforce each region’s strengths. Roadrunner Studios will focus on reducing startup costs and accelerating the commercialization of Frontier Technologies.
About America’s Frontier Fund
America’s Frontier Fund (AFF) is the premier investment platform committed to ensuring the United States remains the best place in the world for Frontier Technology innovation and investment returns. Since its inception in 2021, AFF has assembled a world-class Board and a unique team of investors, academics, technologists and policy experts dedicated to this mission. AFF invests domestically through all stages through Frontier Fund I; creates companies through its national network of innovation hubs, Roadrunner Studios; and assists U.S. allies and partners in developing critical and emerging technologies through his leadership of the Quad Investors Network.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005807/en/
KEYWORD: VIRGINIA NEW MEXICO UNITED STATES NORTH AMERICA
INDUSTRY KEY WORD: TECHNOLOGY PROFESSIONAL SERVICES OTHER TECHNOLOGY FINANCING
SOURCE: America’s Frontier Fund
Copyright Business Wire 2022.
RELEASE: 11/22/2022 2:20 PM / DISC: 11/22/2022 2:21 PM